DragonWave Inc. Market Update - Seite 2

Europe

Having successfully completed a lab trial with Harmony Enhanced we are now moving to a field trial with a European based global carrier.

Q2 FY16 revenue expectations

We are updating our revenue expectations for the second quarter of fiscal year 2016. On our Q1 earnings call we indicated we anticipated revenue growth of between 30% and 60% in Q2 relative to Q1. We believe we will be within this guidance but at the lower end of the range given lower revenue than expected from India.

NASDAQ listing requirements

We have applied to NASDAQ to move our stock exchange listing from the NASDAQ Global Select Market to the NASDAQ Capital Market, to be effective no later than August 31, 2015. This will position the company to obtain approval from NASDAQ to grant an additional 180 day period to cure the current deficiency in the stock's bid price. We believe we qualify for this additional cure period. We expect formal approval from the NASDAQ once the first cure period ends on August 31, 2015. The approval from NASDAQ carries a condition that the company will implement a reverse split if needed to bring the trading price of the stock into compliance with NASDAQ rules by the end of the second cure period.

Webcast and Conference Call Details:

Toll-free North America Dial-in: [phone]

International Dial-in: [phone]

The live webcast will be available at http://investor.dragonwaveinc.com/events.cfm.

An archive of the webcast will be available at the same link.

About DragonWave

DragonWave® is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave's carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave's portfolio is wireless network backhaul, including a range of products ideally suited to support the emergence of underlying small cell networks. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America. For more information, visit http://www.dragonwaveinc.com.